Research Analysts’ Recent Ratings Changes for Meggitt (MGGT)

Meggitt (LON: MGGT) recently received a number of ratings updates from brokerages and research firms:

  • 5/16/2019 – Meggitt had its price target lowered by analysts at JPMorgan Chase & Co. from GBX 585 ($7.64) to GBX 580 ($7.58). They now have a “neutral” rating on the stock.
  • 5/16/2019 – Meggitt had its price target lowered by analysts at Goldman Sachs Group Inc from GBX 599 ($7.83) to GBX 592 ($7.74). They now have a “neutral” rating on the stock.
  • 5/16/2019 – Meggitt had its “buy” rating reaffirmed by analysts at Citigroup Inc. They now have a GBX 630 ($8.23) price target on the stock.
  • 5/15/2019 – Meggitt had its “buy” rating reaffirmed by analysts at Jefferies Financial Group Inc. They now have a GBX 635 ($8.30) price target on the stock.
  • 5/14/2019 – Meggitt is now covered by analysts at Barclays PLC. They set an “underweight” rating and a GBX 460 ($6.01) price target on the stock.
  • 5/13/2019 – Meggitt had its “hold” rating reaffirmed by analysts at Deutsche Bank AG.
  • 4/30/2019 – Meggitt had its price target raised by analysts at Goldman Sachs Group Inc from GBX 585 ($7.64) to GBX 599 ($7.83). They now have a “neutral” rating on the stock.
  • 4/26/2019 – Meggitt had its “sell” rating reaffirmed by analysts at UBS Group AG.
  • 3/21/2019 – Meggitt had its price target lowered by analysts at HSBC Holdings plc from GBX 645 ($8.43) to GBX 635 ($8.30). They now have a “buy” rating on the stock.

MGGT traded down GBX 5.60 ($0.07) during mid-day trading on Friday, hitting GBX 526.60 ($6.88). The stock had a trading volume of 1,382,534 shares, compared to its average volume of 3,380,000. The company has a debt-to-equity ratio of 50.39, a quick ratio of 1.01 and a current ratio of 1.80. The firm has a market cap of $4.11 billion and a PE ratio of 23.10. Meggitt plc has a 1-year low of GBX 456.10 ($5.96) and a 1-year high of GBX 583.80 ($7.63).

The company also recently announced a dividend, which was paid on Friday, May 3rd. Shareholders of record on Thursday, March 21st were issued a GBX 11.35 ($0.15) dividend. The ex-dividend date was Thursday, March 21st. This is a positive change from Meggitt’s previous dividend of $5.30. This represents a yield of 2.01%. Meggitt’s dividend payout ratio (DPR) is 0.75%.

In other news, insider Tony Wood bought 227 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were bought at an average cost of GBX 546 ($7.13) per share, for a total transaction of £1,239.42 ($1,619.52). Also, insider Marina Thomas sold 3,813 shares of the stock in a transaction on Monday, April 8th. The stock was sold at an average price of GBX 524 ($6.85), for a total transaction of £19,980.12 ($26,107.57). Over the last quarter, insiders acquired 282 shares of company stock worth $153,145.

Meggitt PLC designs and manufactures components and sub-systems for aerospace, defense, energy, medical, industrial, test, and automotive markets in the United Kingdom, rest of Europe, the United States, and internationally. It operates through Meggitt Aircraft Braking Systems, Meggitt Control Systems, Meggitt Polymers & Composites, Meggitt Sensing Systems, and Meggitt Equipment Group segments.

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